New Wave Wealth Advisors LLC Invests $20.82 Million in Walmart Inc. (NYSE:WMT)

New Wave Wealth Advisors LLC acquired a new stake in shares of Walmart Inc. (NYSE:WMT) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 307,540 shares of the retailer’s stock, valued at approximately $20,824,000. Walmart comprises about 11.2% of New Wave Wealth Advisors LLC’s holdings, making the stock its largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Walmart by 199.4% during the first quarter. Vanguard Group Inc. now owns 411,745,334 shares of the retailer’s stock valued at $24,774,717,000 after purchasing an additional 274,229,968 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Walmart by 181.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,861,234 shares of the retailer’s stock worth $3,421,342,000 after purchasing an additional 36,625,314 shares during the last quarter. Swiss National Bank boosted its position in Walmart by 187.4% during the 1st quarter. Swiss National Bank now owns 13,303,200 shares of the retailer’s stock valued at $800,454,000 after purchasing an additional 8,674,100 shares during the period. Canada Pension Plan Investment Board grew its stake in Walmart by 284.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,122,273 shares of the retailer’s stock worth $669,227,000 after buying an additional 8,225,552 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Walmart by 184.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,567,533 shares of the retailer’s stock worth $756,188,000 after buying an additional 8,144,393 shares during the period. Institutional investors and hedge funds own 26.76% of the company’s stock.

Walmart Price Performance

WMT stock opened at $80.75 on Tuesday. The firm has a 50-day moving average of $74.64 and a two-hundred day moving average of $67.71. The firm has a market capitalization of $649.09 billion, a PE ratio of 34.56, a P/E/G ratio of 4.00 and a beta of 0.51. The company has a current ratio of 0.80, a quick ratio of 0.22 and a debt-to-equity ratio of 0.46. Walmart Inc. has a one year low of $49.85 and a one year high of $81.60.

Walmart (NYSE:WMT) last issued its quarterly earnings results on Thursday, August 15th. The retailer reported $0.67 EPS for the quarter, beating the consensus estimate of $0.65 by $0.02. Walmart had a net margin of 2.34% and a return on equity of 21.72%. The business had revenue of $169.30 billion during the quarter, compared to the consensus estimate of $168.56 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts forecast that Walmart Inc. will post 2.44 earnings per share for the current year.

Insider Transactions at Walmart

In related news, EVP Daniel J. Bartlett sold 2,398 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $69.50, for a total transaction of $166,661.00. Following the transaction, the executive vice president now directly owns 463,871 shares of the company’s stock, valued at $32,239,034.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Walmart news, EVP John R. Furner sold 13,125 shares of Walmart stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.60, for a total transaction of $926,625.00. Following the completion of the sale, the executive vice president now owns 632,415 shares of the company’s stock, valued at approximately $44,648,499. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel J. Bartlett sold 2,398 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $69.50, for a total transaction of $166,661.00. Following the completion of the transaction, the executive vice president now directly owns 463,871 shares in the company, valued at $32,239,034.50. The disclosure for this sale can be found here. Insiders sold a total of 12,334,670 shares of company stock valued at $958,025,027 over the last quarter. Company insiders own 45.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WMT shares. Melius Research assumed coverage on shares of Walmart in a research note on Monday, September 23rd. They set a “buy” rating and a $95.00 target price for the company. HSBC raised their target price on Walmart from $70.00 to $81.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Telsey Advisory Group lifted their target price on Walmart from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Redburn Atlantic raised Walmart to a “strong-buy” rating in a research note on Monday, September 23rd. Finally, Jefferies Financial Group lifted their price objective on shares of Walmart from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Walmart currently has an average rating of “Buy” and an average target price of $81.62.

Walmart Profile

Walmart Inc engages in the operation of retail, wholesale, other units, and eCommerce worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores under Walmart and Walmart Neighborhood Market brands; membership-only warehouse clubs; ecommerce websites, such as walmart.com.mx, walmart.ca, flipkart.com, PhonePe and other sites; and mobile commerce applications.